He was pointing to a side-table on which were piled Mr. Ricardo's letters.

"You have not opened them this morning?" he asked.

"No. You came while I was still in bed. I have not thought of them till now."

Hanaud crossed to the table, and, looking down at the letters, uttered a cry.

"There's one, the big envelope," he said, his voice shaking like his hand. "It has a Swiss stamp."

He swallowed to moisten his throat. Ricardo sprang across the room and tore open the envelope. There was a long letter enclosed in a handwriting unknown to him. He read aloud the first lines of the letter:

"I write what I saw and post it to-night, so that no one may be before me with the news. I will come over to-morrow for the money."

A low exclamation from Hanaud interrupted the words.

"The signature! Quick!"

Ricardo turned to the end of the letter.